Released: 01 April 2021
March Sales Managers Survey Signals First Signs of Global Growth
Of the three Sales Managers Indexes relating to economic growth (the Business Confidence, Market and Sales related indexes) two finally came good in March rising to around the 53 mark. Business Confidence rose to 52.7, a twelve month high, and the Sales Growth Index rose to a reading of 53.1, indicating strong growth over the February figure. The Sales Managers Overall Index rose to a very encouraging 14 month high.
The positive story told by the sales related indexes is not yet fully supported by the Staffing Levels Index, which lingers too close to the 50 “no growth” line for comfort. This Index, having stayed well below the 50 level since the arrival of Covid in early 2020, has reflected a largely continuous fall in employment levels. The rate of decline has lessened in recent months, providing hope that the fabled green shoots of recovery are not long to be denied, and March data does indeed suggest that relief is on the way, but not quite with us yet.
The Profits Levels Index reflects the same picture, rising in March to a three month high, but not yet to an index value that suggests widespread recovery has arrived.
On balance an encouraging story leading to the hope that April data will provide unequivocal signs of economic activity rising out of the mire of the last year.
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